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Gold moves up Rs 120 on global cues, silver climbs

Press Trust of India  |  Mumbai 

prices rose by Rs 120 to Rs 30,650 per 10 grams at the market here today, taking positive lead from global market amid increased buying by local jewellers.

Silver too rallied by Rs 365 per kg following increased demand from industrial units.

Standard (99.5 purity) rose by Rs 120 to end at Rs 30,650 per 10 grams from last Friday's level of Rs 30,530.

Pure (99.9 purity) also climbed by a similar margin to finish at Rs 30,800 per 10 grams against Rs 30,680 previously.

Silver (.999 fineness) surged by Rs 365 per kg to settle at Rs 39,660 from Rs 39,295 earlier.

Globally, gold extended its recovery, touching the strongest in nearly two weeks as the dollar weakened, the Chinese yuan rebounded and some investors reversed their bearish gold bets.

Spot gold was up 0.7 per cent at USD 1,262.86 an ounce at early trade, its highest since June 26.

Among other precious metals, silver rose 1.2 per cent to USD 16.18 an ounce.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, July 09 2018. 19:45 IST